Trump surprises with FED pick most likely to defy rate cut demands. What does it mean?

oday on Today in Mortgages, Michael and Rich break down the surprising nomination of Kevin Warsh as the next potential Fed Chair — and why the industry did not see this coming. They unpack his hawkish history, what this means for mortgage rates, how politics may influence the confirmation process, and why independent monetary policy still matters.Plus, Rich and Michael recap an incredible weekend at Network Funding’s 2026 President’s Club in Napa Valley, including pickleball semifinals, vendor showdowns, and the power of celebrating wins as a company.▶️ In this episode:Kevin Warsh’s nomination: why it surprised economistsWhat his hawkish views might mean for ratesThe political drama around Powell’s investigationWhy the Fed’s independence is essentialHow the 10-year Treasury still drives mortgage ratesPresident’s Club highlights & celebrating productionNetwork Funding’s “support your brand, don’t hold your hand” philosophy──────────LOAN OFFICERS – Looking to GROW your business?Find out how we’re helping our best producers get even better — and how you can DO MORE YOU inside the best network in mortgages:👉 Join the Network──────────FREE INDUSTRY INSIGHTS REPORTTake our Loan Officer Survey and get your FREE industry report! Benchmark against peers, understand market trends, and plan your next move:👉 SurveySee more at TodayInMortgages.comWant to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here. Learn more about Network Funding on our parent site. Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.